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When the mini-budget was introduced by Kwasi Kwarteng in September 2022 this undoubtedly led to turmoil within the UK markets. Whilst the government were forced to reverse some of these measures, economic uncertainty coupled with rising interest rates made the Scottish property market a difficult place to navigate.
Interest rates have continued to rise throughout 2023 with the Bank of England’s most recent increase of 0.5% on the 22nd of June taking the base rate to 5% in order to curb rising inflation…
This is a review of the latest market data provided by Registers of Scotland for Q1 of the 2023 – 2024 financial year.
